UHV SBDC to bring back workshop for veteran entrepreneurs
Crossroads veterans who want to learn about lending opportunities will have chance to find out more at a University of Houston-Victoria Small Business Development Center workshop presented by the Small Business Administration.
The UHV SBDC will host SBA Small Business Financing for Veterans from 1:30 to 3:30 p.m. April 20 in UHV University North Room 110A, 3007 N. Ben Wilson St. This is the second time the UHV SBDC has hosted the workshop.
“Veterans have access to some wonderful opportunities because of their service,” UHV SBDC Director Joe Humphreys said. “However, they don’t always know about all the options or take advantage of them. We want to help them access these resources.”
The program will be presented by Annie Hudspeth, a lender relations specialist from the SBA in San Antonio. She will discuss loan options for veterans.
The SBA has two loan programs for veterans. The Veterans Advantage program can grant loans of up to $350,000 with no fees for veterans owning 51 percent or more of a business.
The SBA also offers the 7(a) loan program, which provides majority business owners who are veterans loans of up to $150,000. There are no fees for the loans, and the SBA has a 50 percent reduction in the guaranty fee, which is the amount charged by a guarantor.
Information also will be shared about the Texas Veterans Commission’s Veterans Entrepreneur Program, which provides training and mentoring for veteran entrepreneurs.
“This workshop will help veterans learn about how their service makes them eligible for funds to start or expand their businesses,” Humphreys said. “They’ve already sacrificed so much through their service. We want to make sure they are equipped to pursue success when they come home.”
The UHV SBDC is part of a nationwide small business assistance program that serves the small business community in partnership with federal, state and local governments. The center offers business advising, training and technical assistance to existing and start-up businesses in an 11-county area.